As the government advanced 20 per cent ethanol blending by 2 years to 2023 from 2025, the shares of sugar companies rallied up to 8 per cent on the BSE in intra-day trade on Thursday.
Read more about Market Wrap Podcast, June 3: Here s all that happened in the markets today on Business Standard. On the NSE, the 50-share index added 114 points, or 0.73 per cent, to settle the day at 15,690
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NEW DELHI: As the domestic stock market came under selling pressure in April, fund managers at ICICI Prudential Mutual Fund got busy buying oil & gas explorers and select midcap names in April even as they rushed to completely exit some of the recent debutant stocks.
The team led by S Naren bought nearly 5 crore shares of Hathway Cable & Datacom, which came out with an impressive earnings report for March quarter. Recently, Reliance Industries also sold some shares in the firm to trim its overall stake.
Besides the Reliance group firm, India s second largest fund house also bought 1-3 crore shares of ONGC, Ashok Leyland, JM Financial and Axis Bank. The first two are being seen as re-rating candidates ahead of the emerging growth cycle.
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